In the last decade, Illinois’ economy and the economies of neighboring states have gone in opposite directions, with more people now working in Wisconsin and Indiana combined.
In February 2017 Illinois surpassed its previous jobs peak from September 2000. However, long-term problems could potentially hamstring further jobs growth if left unaddressed.
New Illinois jobs data reveal a state with thousands of job losses, unemployment rising to 5.7 percent, a collapsing manufacturing sector, and several downstate communities sliding back into recession — all of which make the Illinois Senate’s new tax hike proposal especially harmful.
The Illinois Department of Employment Security’s newly released jobs report shows Illinois’ 1,700 jobs gained in November were concentrated in white-collar service sectors, and that blue-collar fields, such as manufacturing, lost jobs.
Metropolitan jobs data shows that from October 2015 – October 2016 the greater Chicago area is up +33,500 jobs while the rest of the state is down -2,700 jobs. Measured since before the Great Recession, from October 2007 – October 2016, the greater Chicago area is up 110,100 jobs while the rest of the state is down -42,700 jobs.
New IDES data show that Illinois’ overall jobs growth was weak for October. While the greater Chicago area had tepid jobs growth over the year, the rest of the state lost jobs.
The divergence between professional and blue-collar work continued in September, and a shrinking workforce coincided with steady seasonal out-migration.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.